January Newsletter

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Highland House Sales Up 16% in 2013

Figures just released by the Highland Solicitors Property Centre (HSPC), show that the number of houses sold during 2013 has increased by 16% on the figures for 2012.

This is the first rise in house sales in the Highlands and Islands since the pre-financial crisis peak in 2007. The total value of houses sold was also the highest since 2008, up 15% on 2012.

Average house prices for the year held up reasonable well at £162,089 - just 0.6% down on 2012. This compares to a fall of 1.8% in average prices between 2011 and 2012.

Commenting on the figures, Sarah Woodcock, Manager of HSPC, said:

"The 2013 figures are certainly encouraging, with the sales volume and value both up considerably on 2012, although the average price is down fractionally."

"Closer examination of the figures reveals that the number of active properties has fallen by 29%. This is a substantial reduction and it indicates that houses in the Highlands are now selling more quickly than the number of properties coming onto the market."

"This is an indication that some of the pent-up demand that has been building up over recent years, is turning into sales. Clearly more people now feel they are able to make their move. This is the result of a number of factors, most notably easing of the mortgage supply and growing confidence from potential buyers in their own financial prospects."

A clear indication of the continuing interest in the Highlands and Islands property market comes from the HSPC website statistics. The number of visitors to the site at www.hspc.co.uk continues to grow, ending 2013 7% up on 2012.

Quick Stats - December - Year on Year

Included below is a quick HSPC update, offering some year on year comparison stats for the month of December.

The total number of houses sold by the HSPC in December 2013 compared with 2012 has seen an increase by 60%. The sold value for December has also increased by 35% over the period, from £12.216m to £16.500m.

The rolling quarterly average has decreased by 5% compared with December 2012. The average house price has also decreased, on average, by 15% to £154,205.

The average house prices, based on sales are as follows:

Flat (£107,042); Bungalow (£182,837); Semi-Bungalow (£133,437); Villa (£259,084); Semi Villa (£151,443).

The HSPC has seen a 24% increase in property insertions, with 41 insertions in December 2013 compared with 33 in December 2012. There has also been a 6% increase in the number of enquiry visitors to the HSPC website, with 73,948 visitors in December 2013 compared to 69,876 in December 2012.

Main Office: 20 Tower Street, Tain, Ross-shire, IV19 1DZ Tel: 01862 892046 Fax: 01862 892715
Satellite Office: The Property Shop, 20 Bridgend, Beauly, Inverness-shire, IV4 7EJ Tel: 01463 783111 Fax: 01463 783211
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